The EA works in cycles of one of the selected modes Normal or Reverse, Rotation. When opening an order a new cycle is opened. The cycle runs until the total profit of all orders (open or closed) increases the loss, then the cycle is closed and a new one is opened.
EA Operation Modes
- Normal - in the Normal mode, the EA opens a position in the same direction, if previous trade was closed by Take Profit, and in the opposite direction, if it was closed by Stop Loss.
- Reverse - if you select Reverse, the EA opens a position in the opposite direction, if the previous transaction was closed by Take Profit, and in the same direction, if it was closed by Stop Loss.
- Rotation - Rotation mode, the EA constantly opens a position in the opposite direction, for example, the previous position was BUY, then the next position will be SELL; after the closing of SELL the EA will open BUY again.
- Information panel - information panel with data on the current account;
- The choice of day of the week - select a day of the week when the EA is allowed to trade.
- A function of Maximum spread - the maximum allowable spread (maximum distance between Ask and Bid), if A function of Maximum spread=OFF this option is disabled.
- To Change The Cycle - change the cycle (if necessary you can change the current cycle to the new name of the cycle)
- Modes - select the mode of the EA
- Volume - volume of open trades.
- Take Profit - the amount of desired profit for an open order in points.
- Stop Loss - the amount of allowable loss for an open order in points.
- Slippage - acceptable slippage rates when opening an order.
- Trailing Stop Loss - move Stop Loss to order open price when you achieve a positive profit specified in pips, (0 - disabled);
- Trailing Take Profit - move Take Profit to the order open price when reaching negative profit specified in pips, (0 - disabled)
- Losing volume, increased by two - to increase the volume two times if the previous transaction was closed at a loss(martingale principle).
- Increase in Volume + VolumePlus - increase Volume by adding "VolumePlus" to the current volume if the previous deal was closed with a loss (for example, if the previous volume closed at a loss and was equal to 0.03, and "VolumePlus"=0.01, then the next deal will have the volume of 0.04, "0.03+0.01=0.04")
- Maximum volume - the maximum allowed volume. After achieving this volume, next orders will be opened with the maximum lot.
Note: the Use of martingale can lead to loss of all funds on the account. Before using this EA make sure you test its functionality with your broker.
Improved calculation of profit.
This Changeling version 1.1 does not support cycles opened by the previous version of Changeling 1.0